16 Oct 2025 | 3 Mins Read
Nio suffers 12% stock plunge due to GIC revenue inflation claims
Flipitmoney
Hong Kong-listed shares of Nio plunged over 12 percent on the Hong Kong stock exchange after Singapore's GIC sovereign wealth fund sued the Chinese EV maker for allegedly inflating revenues, naming CEO Li Bin and former CFO Feng Wei as defendants. Nio shares also dropped over 9% on the Singapore Exchange.